The five biggest Dow Jones Industrial Average gainers in Wednesday’s positive trading action were all value names. In a relatively rare day this year, the few decliners in the index were mostly growth stocks that have powered the U.S. market.

Fundamentally, Wednesday did not look so good.

Economic data rolling in for August has looked weaker than July data. The ADP jobs report for July showed that the economy added a bit over a net 400,000 jobs vs. economists’ expectations of more than 1 million. The unemployment rate, which the Bureau of Labor Statistics will release on Friday, may be falling at a slower rate than it was earlier this year. It had fallen from above 15% to just above 10% of late. But if ADP is accurate, the pace is slowing.

Plus, House Speaker Nancy Pelosi has said repeatedly the new fiscal stimulus bill — which may give smaller

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Boris Johnson warned on Wednesday that the UK’s economic outlook was “about to get tougher” as chancellor Rishi Sunak admitted tax rises would be required to pay for the economic chaos wrought by coronavirus.

The chancellor and prime minister addressed Conservative MPs in an effort to improve party relations after a summer of policy U-turns and the threat of big tax rises to repair the fiscal damage from the pandemic.

Andrew Bailey, the governor of the Bank of England, told the Treasury select committee that the UK economy could be 1.5 per cent smaller in the long run due to coronavirus but the scarring effects could prove worse.

After much private angst towards Downing Street, Mr Sunak made an impassioned plea to MPs to trust him and hinted some tax rises might be required to pay for the increase in borrowing.

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Across the country, local governments are sending out small grants to their small businesses even though their budgets are already devastated, with some cities expecting revenue shortfalls of 20 percent. But city councils, mayors and governors see this help as a matter of survival.

“They realize that it’s much easier to retain businesses and jobs than to let them fail and presume the economy will stitch itself back together,” said Joseph Parilla, a fellow with the Brookings Institution’s Metropolitan Policy Program. “What we learned from the great recession is that it is not easy for the economy to heal itself.”

So far, they have given out at least $5 billion in aid. They are squeezing the money out of their own limited budgets along with donations from corporate benefactors and philanthropic organizations. But the biggest source was the first stimulus package, the CARES Act. As part of that, Congress allocated

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As business leaders, we have entered into an entirely new reality: The ongoing pandemic has forced many to reevaluate how we currently operate traditionally entrenched industries and working models. Many companies are still reacting to this “new abnormal” and have not taken the time to evaluate the strategic impact and address if or how they may need to pivot their current company trajectory. More than ever, business leaders have a clear and present obligation to reevaluate their organization from stem to stern with a critical eye towards longevity and financial success.


One of the opportunities presented in moments such as this is how we can focus on and catalyze strategies that may have been brewing in the background for years. Times of immense change can also

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LANSING, Mich. – The owners of Michigan gyms and other businesses were hoping to hear the governor address reopening plans Wednesday, but that didn’t happen.

Gov. Gretchen Whitmer didn’t officially announce a plan at her coronavirus (COVID-19) briefing, but she hinted that a decision should be revealed in the coming days.

Business owners might be able to reopen after Labor Day, but they were hoping an official plan would be revealed Wednesday.

“We have to get this right,” Whitmer said. “We take this very seriously, and the decisions that will I make in the coming days and announce are made in a way that will be protecting athletes and families and coaches and parents and patrons, or small business owners, as well.”

The governor has been getting pushback from business owners, patients and students when it comes to allowing gyms to reopen and team sports to be played.

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Guess  (GES) – Get Report shares jumped Wednesday, as the clothing retailer’s latest results beat analysts’ expectations despite the negative impact of the coronavirus pandemic.

The Los Angeles company’s shares recently traded at $13.42, up 12%. The stock had slumped 46% in 2020 through Tuesday’s trading.

For the fiscal 2021 second quarter ended Aug. 1, Guess reported a net loss of $20.4 million, or 31 cents a share, swinging from profit of $25.3 million, or 35 cents a share, in the year-earlier quarter.

The adjusted loss was a penny a share, smaller than analysts’ estimate of a 58-cent loss, calculated in a FactSet survey.

The company reported revenue of $399 million, down 42% from $683 million a year earlier. The latest figure exceeded the FactSet analyst consensus of $385 million.

“The Covid-19 crisis continued to impact our business in the second quarter,” Guess Chief Executive Carlos Alberini said

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Shares of Tesla Inc. took another dive Wednesday to kick off a correction, after the electric vehicle maker disclosed that one of its largest shareholders sold off a chunk of stock, although the sale was effectively just a rebalancing as the value of the stake has actually increased.

What may be unnerving investors is the disclosure comes a day after the company itself said it would sell up to $5 billion worth of its stock. Separately, although BofA Securities analyst John Murphy raised his price target to imply a near-30% gain from current levels, he stopped short of recommending investors buy the stock.

Tesla’s stock
TSLA,
-5.82%

dropped 5.8% to $447.37 in active trading, to mark the biggest one-day decline in about six weeks. The stock has now tumbled 11.4% since it closed at a record $498.32 on Monday, when its 5-for-1 stock split took effect.

Many on Wall Street

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Josiah King, and 11-year-old from Charlotte, is representing North Carolina in The World Of Money Youth Online Business Pitch Competition.

CHARLOTTE, N.C. — At 11 years old, Charlotte’s Josiah King is a finalist in The World Of Money Youth Online Business Pitch Competition. The Piedmont Middle School student said when he grows us he wants to be a scientist.

“I’d like to be a botanist, astronomy, geology and I like biology,” King said.

The World Of Money Youth Online Business Pitch Competition is sponsored by JP Morgan & Chase Co. The program, Advancing Black Pathways, is an opportunity to empower African American youth to bring their business ideas to the forefront.

This September, King is the only finalist representing North Carolina.

He said his pitch in the competition is to start his own gardening business.

“The business plan was that I could go around helping people improve their gardens, start-up

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With all the day-to-day noise that we are presented with in the market, it is important to remind ourselves of what consistently drives the market; fear and money-flows. In this piece we focus on the latter.

It is important to understand that both the economy and the stock market are open systems where money can flow in and out. In other words, they are open systems.

A poker game around the fold-out table in your recreation room is not an open system; it is both a closed system and a zero-sum game. This means that the aggregate amount of money in the game is fixed, and that the money will flow around the table as the players who lose, transfer the money to those who win. Normally, no outside money comes onto the table, and the amount won equals the amount lost (a zero-sum game).

The economy and the market

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SAN DIEGO, Sept. 2, 2020 /PRNewswire/ — Realty Income Corporation (Realty Income,NYSE: O), The Monthly Dividend Company®, today provided a business update regarding its contractual rent collection.


For the
Quarter Ended
June 30, 2020


For the
Month Ended
July 31, 2020


For the

Month Ended 

August 31, 2020

Through September 1, 2020:






Contractual rent collected(1) across total portfolio

87.8%


92.3%


93.5%

Contractual rent collected(1) from top 20 tenants(2)

82.6%


90.9%


92.2%

Contractual rent collected(1) from investment grade tenants(3)

99.1%


100.0%


99.9%



 (1)

Contractual rent is the aggregate cash amount charged to tenants inclusive of monthly base rent receivables. U.K. rent (which is payable in pounds Sterling) was converted at the exchange rate in effect on the first day of the following month for each month period.

(2)

We define top 20 tenants for any period as our 20 largest tenants based on

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